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Dec 7, 2012
12/12
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consumer spending is down. >> i want to thank tiffany. >> the fiscal cliff negotiations are down to president obama and john boehner. the uncertainty could take a toll. >> it hasn't affected hiring and layoff decisions yet but it will if we get into next year and haven't nailed this down. >> on monday the president travels to michigan to talked economy at a diesel plant. >> why is superstar sandy plain such a role in the jobs report? >> 24 states were affected one way or the other. businesses had to shut down. between the fiscal cliff and senate come when my has seen it up to 200,000 jobs added. instead we're looking at something more like 100,000 we think. not very good. >> tara mergener, thank you. you can apply for official federal assistance immediately. the deadline is this month for some workers. for more affirmation, call 288- 9050. >> 33 degrees at the airport. after some criticism, could apple be in sourcing its next big project? >> will you be putting fewer gifts under the christmas tree this year? >> a day that still lives in infamy. the anniversary of the attack on pearl harbor. >
consumer spending is down. >> i want to thank tiffany. >> the fiscal cliff negotiations are down to president obama and john boehner. the uncertainty could take a toll. >> it hasn't affected hiring and layoff decisions yet but it will if we get into next year and haven't nailed this down. >> on monday the president travels to michigan to talked economy at a diesel plant. >> why is superstar sandy plain such a role in the jobs report? >> 24 states were...
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Nov 29, 2012
11/12
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FBC
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there is a real danger of going off the fiscal cliff. >> we are not going to kick the can down the road. we're going to finalize this this year. this is no time for delay. the american people want us to avoid the fiscal cliff with a balanced approach. liz: he said, he said. good afternoon, everybody. i am liz claman, "countdown to the closing bell" starts right now. you heard it from the horses mouth. and it has gyrated the market. john boehner said no substantial progress on fiscal cliff debt deal while harry reid insists we democrats are on track and will finalize it this year. even chuck schumer weighed in saying progress is being made on the hill and the next is a taste oversensitive. take a look at the intraday, you can see how it was jerked around today. right around 11:30 a.m., speaker john maye -- john boehner spoke. the buyers poured in, the short time later chuck schumer came in. now we are trading near the highs of the day. the dow jones dust they stop 77 points, 45 to the upside. all 10 s. and p. sectors are jumping with technologies leading the way. research in motion a big
there is a real danger of going off the fiscal cliff. >> we are not going to kick the can down the road. we're going to finalize this this year. this is no time for delay. the american people want us to avoid the fiscal cliff with a balanced approach. liz: he said, he said. good afternoon, everybody. i am liz claman, "countdown to the closing bell" starts right now. you heard it from the horses mouth. and it has gyrated the market. john boehner said no substantial progress on...
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Dec 7, 2012
12/12
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. >>> also, the fiscal cliff. it's down to two people. everybody seems to agree, two people get in the room, the president and the leader of the opposition, john boehner, the speaker. they may be closer, some argue, to an agreement than we think. the question is can they sell the deal to their bases, to their fringies, left and right i must say. >>> plus, republicans say they would change after the lek and they are. guess what? they're changing the rules. some of them are proposing to republicans in pennsylvania and three other states obama won. they're trying to eliminate the winner take all system of awarding electoral votes. that way republicans could win electoral votes in states they lose. >>> new jersey governor chris christie finally meets his idol. the man he's seen in concert more than 100 times. the governor and the boss, bruce springsteen. they're friends now. this is "hardball," the place for politics. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those aff
. >>> also, the fiscal cliff. it's down to two people. everybody seems to agree, two people get in the room, the president and the leader of the opposition, john boehner, the speaker. they may be closer, some argue, to an agreement than we think. the question is can they sell the deal to their bases, to their fringies, left and right i must say. >>> plus, republicans say they would change after the lek and they are. guess what? they're changing the rules. some of them are...
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Dec 7, 2012
12/12
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this all comes as we get word that the fiscal cliff talks will boil down to what happens between two people and only two people. president obama and john boehner. even all sides of the party are excluded. >>> with 25 days before taxes go up for nearly every single american, what effect will the jobs report have on the fiscal standoff? we'll get live remarks from john boehner who is going to try to use the jobs report to the republican's advantage. representative, let's start with the november jobs report numbers. they look very good, good news overall for the koirnlt tree. but speaker boehner said this, the democrats plan to slow walk our economy to the edge of the fiscal cliff instead of engaging in serious talks to avert the cliff, that includes spending cuts and tax reforms the president once supported. the white house has only offered a joke. i understand we have speaker boehner to the microphones. let's take a listen. >> when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. eight days ago secretary geithne
this all comes as we get word that the fiscal cliff talks will boil down to what happens between two people and only two people. president obama and john boehner. even all sides of the party are excluded. >>> with 25 days before taxes go up for nearly every single american, what effect will the jobs report have on the fiscal standoff? we'll get live remarks from john boehner who is going to try to use the jobs report to the republican's advantage. representative, let's start with the...
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Dec 4, 2012
12/12
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CNBC
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if it does come down a bit because of the fiscal cliff, that's small pockets. overall, in general in the country, we are seeing a firm price recovery. >> but the big issue there is, if we eliminate the mortgage tax deduction for people under $1 million, we could really get hurt. >> that's a great point. this is why everything is tied to this fiscal cliff. >> exactly. >> you take out the mortgage deduction, and the traction we saw on the housing market reverses course. >> totally. i don't see how we can give $8,000 credits one year and the next year we take away the mortgage tax detux. a little consistency would be nice. >> are high-end home prices, do you think, are they ever going to go back to where we were when we saw them at the peak? >> for the highest end of the market, yes. i think they'll go even above the peak. >> why do you believe that? >> because people looking at real estate really as an asset again. i think a lot of money is out of the markets and back in real estate. when you're getting 20% on your money, it's going to be in the markets. when you
if it does come down a bit because of the fiscal cliff, that's small pockets. overall, in general in the country, we are seeing a firm price recovery. >> but the big issue there is, if we eliminate the mortgage tax deduction for people under $1 million, we could really get hurt. >> that's a great point. this is why everything is tied to this fiscal cliff. >> exactly. >> you take out the mortgage deduction, and the traction we saw on the housing market reverses course....
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Dec 4, 2012
12/12
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you're worried about what happens if we go over the fiscal cliff. play out the scenario for how things would go down if we actually do move past january 1 without an agreement. >> if you get lots of economist projections, you'll see the general view is the economy would have negative growth or a couple percentage points, whatever it is. near term recession impact. and that nt would be good to the economy because it's been moving its way out. what's really after people is will we be serious about fixing the long term problems of america's fiscal situation. basically having more revenue and less expenses so we can get the thing more if line. and that's pre-occupying people because they're worried about the longer term issue. if this doesn't move forward with a solution that actually starts to layout the ground work for the long term issues, it could be potentially disappointing. >> ceos say they have to lay out their plans for what they're planning on doing in january and they have to move forward with the plan that has an assumption that we don't get
you're worried about what happens if we go over the fiscal cliff. play out the scenario for how things would go down if we actually do move past january 1 without an agreement. >> if you get lots of economist projections, you'll see the general view is the economy would have negative growth or a couple percentage points, whatever it is. near term recession impact. and that nt would be good to the economy because it's been moving its way out. what's really after people is will we be...
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Nov 29, 2012
11/12
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let's quit having these fiscal cliffs. and let's not be threatening government shut downs. let's sit down in a good faith effort and that's what president obama is not doing. he's back on the campaign trail which will is unfortunate. he should be in washington here sitting down in a good faith effort to try and grow the economy. because that's ten times more effective. >> senator, what are the odds that you think we reach an agreement before january 1st? >> that's just hard to say. there are enough republicans that are showing a willingness and i'm certainly willing to sit down with anybody who is willing to negotiate in between faith. my guess is we probably will get it solve, but i hope item not done in a way that harps tms th economy. but the president has to show us his balanced plan. >> as you said yourself, probably not the way to do to negotiate either on television or in front of everybody. that's probably happening behind the scenes. >> becky, that's not negotiating. that's called putting your plan on the table. republicans have passed two budgets. we have a bipart
let's quit having these fiscal cliffs. and let's not be threatening government shut downs. let's sit down in a good faith effort and that's what president obama is not doing. he's back on the campaign trail which will is unfortunate. he should be in washington here sitting down in a good faith effort to try and grow the economy. because that's ten times more effective. >> senator, what are the odds that you think we reach an agreement before january 1st? >> that's just hard to say....
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Dec 3, 2012
12/12
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obviously, chris, you know i think with the fiscal cliff coming down our pike right now that's what we should be focused on. to address your issue, i think that she's done a very fine job as secretary of state. but what i think she most brings and why i got to know her a little bit in the white house when i was director of defense policy is that when i had an issue, for example, on vets matters, establishing a women's veterans memorial or trying to get the secretary of v.a. to pay more attention to orange tea she would host a tea and have people come together and then helped move the ball down the road. i can remember when i had seen her after my very first campaign, i hadn't even been sworn in wret and as we were coming back to washington she picked up the phone and said i have one call to make and when she was done she said you know i thought i should have won one of those precincts and it was a republican precinct and i didn't but i asked them to check the numbers again and by golly i won it. that type of, hey she really cares about the ground issues of people not just on the secret
obviously, chris, you know i think with the fiscal cliff coming down our pike right now that's what we should be focused on. to address your issue, i think that she's done a very fine job as secretary of state. but what i think she most brings and why i got to know her a little bit in the white house when i was director of defense policy is that when i had an issue, for example, on vets matters, establishing a women's veterans memorial or trying to get the secretary of v.a. to pay more...
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fiscal cliff worries still weighing down the market. adam: deal or no deal, the federal government will still be flowing through trillions of dollars we do not have. it is all about spending. next. ♪ adam: today's jobs report beating estimates, 146,000 jobs created in november and the unemployment rate dropping to the lowest rate since december 2008 at 7.7%. nicole petallides on the floor of the new york stock exchange. welcome back, nicole. what's going on? >> thanks, adam and melissa. we're looking at a market holding onto some gains so that is obviously a positive sign. december is traditionally the a great month on wall street. the best month since back to 1950, s&p 500 best performing month, up 1.7%. here is as we see the divergence here's what we're seeing lately as there is so much concern about the fiscal cliff. the nasdaq is down about half a percent. the dow down half a percent. s&p also gaining. dow jones industrials up 59 points. some names leading the you way include caterpillar and jpmorgan. pulling other the way way, mi
fiscal cliff worries still weighing down the market. adam: deal or no deal, the federal government will still be flowing through trillions of dollars we do not have. it is all about spending. next. ♪ adam: today's jobs report beating estimates, 146,000 jobs created in november and the unemployment rate dropping to the lowest rate since december 2008 at 7.7%. nicole petallides on the floor of the new york stock exchange. welcome back, nicole. what's going on? >> thanks, adam and melissa....
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Nov 30, 2012
11/12
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CNBC
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this is a fiscal cliff now. this is a prisoner's dilemma and everybody is staring each other down and we're all sitting at a poker table wondering who has the best cards. >> so what do you think will happen with global central banks? we know the fed will take operation twist and turn it into qe-3-b, i guess. i don't know what you want to call it. but instead of swapping short term for long term debt, it's going to buy long term debt outright. >> printing money, right. >> conventional quantitative easing, printing money, whatever you want to call it. and what are we expecting out of europe? what is this with the 1.30 on the euro, a currency everybody says ought to weaken? >> but there are still people who are when the risk on models take over, they buy the euro. that won't last forever as we're starting to see what's going on in france. but spain is certainly the next issue. they had to push greece out of the way and it's interesting the way they resolved greece was exactly what the germans have leaked to reuters
this is a fiscal cliff now. this is a prisoner's dilemma and everybody is staring each other down and we're all sitting at a poker table wondering who has the best cards. >> so what do you think will happen with global central banks? we know the fed will take operation twist and turn it into qe-3-b, i guess. i don't know what you want to call it. but instead of swapping short term for long term debt, it's going to buy long term debt outright. >> printing money, right. >>...
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but slowly we are being weighed down by the fiscal cliff. cheryl: that means a new year's eve selloff. >> you will not time it if you are an investor. focus on companies that have strong balance sheets, pay a good dividend and have strong growth rates. five more of your favorite names on market selloff when you have more opportunity. cheryl: pier one is a risky play. >> the consensus estimate is for growth rate over the next five years. they seem to have finally fixed their project mix. i go with what my wife and friends do and they like to go back into pier one to shop now. cheryl: i haven't been to one in years, i better go check it out. thank you very much. dennis, over to you. dennis: d has an app for that. it could cost them a lot of money. do not change the channel. up next, the batmobile. how much would you bid? take a look at tenure treasuries first. ♪ [ male announcer ] this is amy. amy likes to invest in the market. she also likes to ride her bike. she knows the potential for making or losing money can pop up anytime. that's why
but slowly we are being weighed down by the fiscal cliff. cheryl: that means a new year's eve selloff. >> you will not time it if you are an investor. focus on companies that have strong balance sheets, pay a good dividend and have strong growth rates. five more of your favorite names on market selloff when you have more opportunity. cheryl: pier one is a risky play. >> the consensus estimate is for growth rate over the next five years. they seem to have finally fixed their project...
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Dec 5, 2012
12/12
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KPIX
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wall street investors are waiting for a fiscal cliff deal. stocks were unchanged. the dow lost 13 points while the nasdaq was down five points. bank profits are getting bigger. the financial industry earned $37.6 billion in the third quarter. that's an increase of more than 6% and it could lead to more lending. there's good news on the housing front. a survey shows housing prices were up more than 6% in october. that's the best gain in six years. starting in 2016 the disney characters are coming to netflix. they landed exclusive rights to stream disney movies before they air on cable networks. netflix will get some of disney's classic movies. no financial terms of the deal were released. and just in time for the holidays, starbucks is introducing a $454 gift card. the card is made of etched steel. comes with $400 on it. the reason why it's $450? it costs $50 just to make the card. there will be only 5,000 available and they will only be sold on the website gilt.com. the card comes with a gold level starbucks membership for $400 you can buy 57 cups of starbucks new
wall street investors are waiting for a fiscal cliff deal. stocks were unchanged. the dow lost 13 points while the nasdaq was down five points. bank profits are getting bigger. the financial industry earned $37.6 billion in the third quarter. that's an increase of more than 6% and it could lead to more lending. there's good news on the housing front. a survey shows housing prices were up more than 6% in october. that's the best gain in six years. starting in 2016 the disney characters are...
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. >>> also stay tuned this country is one step closer to falling off the fiscal cliff this morning. while the major players are still not sitting down to talk, there's some good news believe it or not this morning. here is suzanne mcginnis. >> social security workers marched outside they're office in baltimore wednesday. they're protesting the governments cuts to kick in at the end of the year. sdmrsz -- >> we don't want to see our public hurt. >> just down the road in washington dc the stand off continues. house speaker john boehner said he's still waiting for president obama to make his next counter offer to the republican plan he rejected. >> i'm going to need a response from the white house. we can't negotiate with ourselves. >> the president and boehner spoke on the phone wednesday. republicans want more. >> we want to sit down with the president. we want to talk specifics. >> whether the talks happen on the phone or in person here at capitol hill or at the white house there will be no deal without a compromise on taxes. >> i'm obsession to raise taxes is not going to solve the
. >>> also stay tuned this country is one step closer to falling off the fiscal cliff this morning. while the major players are still not sitting down to talk, there's some good news believe it or not this morning. here is suzanne mcginnis. >> social security workers marched outside they're office in baltimore wednesday. they're protesting the governments cuts to kick in at the end of the year. sdmrsz -- >> we don't want to see our public hurt. >> just down the road...
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we need to deal with the fiscal cliff. have a credible down payment on the tax and spending side. bridge to a grand bargain next year. the fiscal cliff is the symptom. structural deficit is the disease. we need to learn from australia, canada, new zealand, sweden. we need to do it next year. >> all right. >> get dr. dave to washington right away so that we avoid what cramer on "meet the press" this weekend had great line. he said on january 8th when the reporting starts, there will be a foot race to fire people if we don't get this cliff taken care of which is why if we're going over the
we need to deal with the fiscal cliff. have a credible down payment on the tax and spending side. bridge to a grand bargain next year. the fiscal cliff is the symptom. structural deficit is the disease. we need to learn from australia, canada, new zealand, sweden. we need to do it next year. >> all right. >> get dr. dave to washington right away so that we avoid what cramer on "meet the press" this weekend had great line. he said on january 8th when the reporting starts,...
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Nov 30, 2012
11/12
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FBC
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markets are down and held hostage by talks on the fiscal cliff in washington. little changed but down, more declining stocks compared to a advancing stocks so the market is negative today. cheryl: thank you very much. dennis: 31 days left before we go over the fiscal cliff. the chief economist of the national federation of independent business is here with what your small-business ought to be doing now. thanks for being with us. the first question i have is what if i just decide can't take uncertainty and will do nothing now. what do you say to that? >> that is what we see our business owners doing, they are really unclear about where the economy is going to go and what the impact of the cliff is going to be nd we ask about their outlook of business conditions six months out, mid year next year, 14% said they thought would be better but 19% thought it would be worse than 22% of time 37 your record highs, who knows? no idea where it will go. the best thing to do is sit tight. dennis: what bothers small people most? the rating creases that president obama and the
markets are down and held hostage by talks on the fiscal cliff in washington. little changed but down, more declining stocks compared to a advancing stocks so the market is negative today. cheryl: thank you very much. dennis: 31 days left before we go over the fiscal cliff. the chief economist of the national federation of independent business is here with what your small-business ought to be doing now. thanks for being with us. the first question i have is what if i just decide can't take...
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Dec 7, 2012
12/12
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the timing is interesting, obviously, just as we're learning that fiscal cliff negotiations are now a party of two, the president and the speaker. the "new york times" reporting that house speaker john boehner wants to speak only to president obama out of public view. though we've just learned that boehner is holding a news conference at 11:00 this morning eastern time. the fight, though, still very public. vice president joe biden is meeting with a middle class family. and yesterday president obama met with a virginia family. tax hikes for the rich are nonnegotiable. >> just to be clear, i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%. but i do remain optimistic that we can get something done that is for families like this one. >> joining me now is barry, msnbc political contributor and editor for grio. hello, guys. >> perry, i'm wondering if these new unemployment numbers add to the president's leverage? >> i think they do. the big thing is the election. but the jobs numbers suggest that the economy is doing well and it cuts
the timing is interesting, obviously, just as we're learning that fiscal cliff negotiations are now a party of two, the president and the speaker. the "new york times" reporting that house speaker john boehner wants to speak only to president obama out of public view. though we've just learned that boehner is holding a news conference at 11:00 this morning eastern time. the fight, though, still very public. vice president joe biden is meeting with a middle class family. and yesterday...
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Dec 2, 2012
12/12
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FOXNEWSW
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the fiscal cliff is complicated but chris will break it down with the important guests. exclusive interview with the house speaker john boehner and also the discussion with tim geithner on "fox news sunday" airing at 2:00 p.m. and 6:00 p.m. eastern only on fox. >> eric: hopefully they will break it down and explain it completely. coming up, the doctors will be here to talk about our health. researchers say they now have a formula to calculate a child's risk for obesity, as soon as the baby is born. they say it's as easy as clicking a mouse. but does it work? new report on rise of chronic respiratory illnesses but how do you know if the lingering cough is something more serious? doctors take your questions on the topic right now. there it is. go to fox news.com/sundayhousecall and join the chat. the doctors will take a lot of the questions on the air later today. we'll be talking bronchitis, asthma, respiratory problems in a moment. like a giant... ♪ and feel like a green giant. ♪ ho ho ho ♪ green giant
the fiscal cliff is complicated but chris will break it down with the important guests. exclusive interview with the house speaker john boehner and also the discussion with tim geithner on "fox news sunday" airing at 2:00 p.m. and 6:00 p.m. eastern only on fox. >> eric: hopefully they will break it down and explain it completely. coming up, the doctors will be here to talk about our health. researchers say they now have a formula to calculate a child's risk for obesity, as soon...
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i think though if the market saw there was at least a down payment on the fiscal cliff, something agreed to be picked up after the first of the year, i think equity prices would be eleased. if we see more polarization leading into the end of the year without any sign of anything getting done, i think that would weigh on equity prices. tracy: talk about what we should be doing because i think we're all kind of the notion this will not happen until december 31st, what could we do before that? should i move maybe my dividend paying stocks into my retirement account? >> you can do that under subject of limitations how much you can put into a retirement account in any given year and predicated whether you work for employer or are self-employed. that is one avenue, if you will of sheltering those growth stocks from taxation at some later point. it isn't going to do much to help you this year, in order to do that you would have to sell them and move the cash into the tax sheltered vehicle. but that said, i think it is prudent anytime to consider where you have sizable capital gains, taking some
i think though if the market saw there was at least a down payment on the fiscal cliff, something agreed to be picked up after the first of the year, i think equity prices would be eleased. if we see more polarization leading into the end of the year without any sign of anything getting done, i think that would weigh on equity prices. tracy: talk about what we should be doing because i think we're all kind of the notion this will not happen until december 31st, what could we do before that?...
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connell: sending the two-party over the fiscal cliff. a number of conservatives that say the president is getting offered too much. dagen: walt has his review. there are some things he says you need to know about. the u.s. economy added 111,000 private sector jobs according to adp. a bit weaker than expected. because of impacts from hurricane sandy. the bank saying it is looking for ways to cut expenses. those cuts amount to 4% of the companies workforce and is estimated to save $1.1 billion every year. stocks now and every 15 minutes. nicole petallides. nicole: we are looking at a market that is to the downside. let's take a look at citigroup. it is about 4% of the workforce. citigroup is higher. it has had an up arrow throughout the day today. we saw the dow jones industrials this week to the downside. we had two consecutive days in selling. down arrows for the nasdaq. down 1.1%. connell: breaking news out of washington. earlier, speaker boehner speaking about the fiscal cliff. now it is president obama. let's listen. >> we have emerge
connell: sending the two-party over the fiscal cliff. a number of conservatives that say the president is getting offered too much. dagen: walt has his review. there are some things he says you need to know about. the u.s. economy added 111,000 private sector jobs according to adp. a bit weaker than expected. because of impacts from hurricane sandy. the bank saying it is looking for ways to cut expenses. those cuts amount to 4% of the companies workforce and is estimated to save $1.1 billion...
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you have to fiscal cliff coming up. you still have it issues in europe. so, you look at all these things, if you are an investor, you are saying, oh, my gosh, do i keep waiting, do i invest? volatility is here to stay. they need to be invested. lori: i always feel like there are so many things. jill politics to global economy. there are constantly influencing investors. you have to look at what is going on in china. for example, better economic news in asia. it is not, you cannot put blinders on anymore. >> that is exactly correct. what happens in the chinese economy or what happens in the european economy does affect what we need to o here. and how we need to invest. when you look around the world, you have 80% of investors who believe volatility is here to stay. now, the difficulty is you have 70%, three out of four americans who saved it do not have enough for environment. lori: should average investors follow the institutions? >> yeah, you know, one of the things we are seeing is a lot of institutions have held off or have looked at managing risk and
you have to fiscal cliff coming up. you still have it issues in europe. so, you look at all these things, if you are an investor, you are saying, oh, my gosh, do i keep waiting, do i invest? volatility is here to stay. they need to be invested. lori: i always feel like there are so many things. jill politics to global economy. there are constantly influencing investors. you have to look at what is going on in china. for example, better economic news in asia. it is not, you cannot put blinders...
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a greater understand we need to sit down and work together and avoid this fiscal cliff. >> debbie, always a pleasure. good to see you. let's bring in lori montgomery for "the washington post," democratic strategy blake zeff. we decided to focus on this today. lori, let me start with you. both house leaders today, it really seems as if talks are -- it seems they're at a standstill, but our first read team is convinced a deal is in sight. we heard from debbie wasserman schultz she heard a deal is in sight. what are you hearing? >> you can see what the framework of a deal is, and i think today you heard speaker boehner. his office tried to walk it back, but for the first time he made public remarks where he didn't rule out an increase in tax rates. you have to wonder if they don't start to move towards a resolution it to what has been the big stumbling point. >> zachary, she mentioned an increase in rates. it would seem that the magic number might be 37%. the president said 39.5% for the highest income earners. right now we're at 35%. maybe i'm oversimplifying, but the obvious compromise wou
a greater understand we need to sit down and work together and avoid this fiscal cliff. >> debbie, always a pleasure. good to see you. let's bring in lori montgomery for "the washington post," democratic strategy blake zeff. we decided to focus on this today. lori, let me start with you. both house leaders today, it really seems as if talks are -- it seems they're at a standstill, but our first read team is convinced a deal is in sight. we heard from debbie wasserman schultz she...
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we are obviously certainly no further down the road to a f fiscal cliff deal. what's the latest and is this posturing, kelly, or is this real? i mean, is this disagreement about kind of laying out the stakes of where everybody stands and what they're willing to give or is it a possibility that we don't get a deal? >> reporter: well, you do hear rumblings, chris, about no deal. but at the same time people are saying there's still some negotiating time left and a bit of optimism. when you heard the tone of what was unfolding yesterday, it was kind of shocking to republicans who would say that the president's offer is so far from a negotiating point that they are surprised not so much that these are the positions that we're in because much has been the president's public rhetoric but in terms of real negotiating they say they were surprised this wasn't the kind of offer that would have happened some weeks ago, meaning right after the election if you want to start there. but now with just four weeks to go they felt the president needed to move further. democrats be
we are obviously certainly no further down the road to a f fiscal cliff deal. what's the latest and is this posturing, kelly, or is this real? i mean, is this disagreement about kind of laying out the stakes of where everybody stands and what they're willing to give or is it a possibility that we don't get a deal? >> reporter: well, you do hear rumblings, chris, about no deal. but at the same time people are saying there's still some negotiating time left and a bit of optimism. when you...
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on the fiscal cliff. keep in mind time is a-wasting. in 32 days now tax rates soar, spending gets slashed. oh, and don't forget, congress, yeah, they get to take a break for the holidays in 14 days. a recipe for recession. the president is pitching a plan that calls for $1.6 trillion in tax heights and $50 billion in new infrastructure spending. he'll head to a manufacturing plant in pennsylvania to push all this. republicans aren't buying in. listen to house speaker john boehner's reaction. >> despite the claims that the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. >> didn't take very long for democrats to hit back at speaker boehner. senate majority leader harry reid got up, a little personal. >> i don't understand his brain, so you should ask him. >> i don't understand his brain. let's go to washington this morning. wow, just when we thought they were getting closer seems like they're even farther apart this morning. >> yeah, you know, the nice
on the fiscal cliff. keep in mind time is a-wasting. in 32 days now tax rates soar, spending gets slashed. oh, and don't forget, congress, yeah, they get to take a break for the holidays in 14 days. a recipe for recession. the president is pitching a plan that calls for $1.6 trillion in tax heights and $50 billion in new infrastructure spending. he'll head to a manufacturing plant in pennsylvania to push all this. republicans aren't buying in. listen to house speaker john boehner's reaction....
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. >> for what, the fiscal cliff or the fiscal abyss? >> for both. >> for both. >> so that a down payment -- a compromise down payment on approximately $4 trillion. i think when you pull it apart, you have about a trillion dollars in discretionary spending that has mostly been agreed upon and you have taxes and the entitlements, the mandatory. >> the entitlements are the sticking point. whoa. did you see that? you think that's funny? >> set that up for you. >> you think that's funny, mac? you do this? look at this. this is booby trapped, man. it won't stay up. which can really be a problem. you can laugh at that. it's okay. nobody's watching. it's 6:00 a.m. that got you going. >> when you look through, i guess the devil is in the details in terms of what you're looking at in spending, cuts, entitlement cuts and with the tax increases, and you're right, both sides have put a plan on the table. they're pretty far apart, but at least now you know there's some framework for how you get to the middle. what do you think, 1.2 trillion in tax in
. >> for what, the fiscal cliff or the fiscal abyss? >> for both. >> for both. >> so that a down payment -- a compromise down payment on approximately $4 trillion. i think when you pull it apart, you have about a trillion dollars in discretionary spending that has mostly been agreed upon and you have taxes and the entitlements, the mandatory. >> the entitlements are the sticking point. whoa. did you see that? you think that's funny? >> set that up for you....
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cliff photo-op of yesterday which was the president meeting with the middle class family. now to jobs. we have something of a surprise report. jobs turned out to be up up. the jobless rate is down and the word from the government is that sandy had no substantive effect on the data. here are the numbers. unemployment down to 7.7%. the economy added 146,000 jobs, not great but good. a third of that came from the retail sector. 53,000 jobs added. professional and business services up 43,000. leisure and hospitality up. construction, though, lost 20,000 jobs. we should note that jobs numbers were revise d downward, though, for september and october. in september it was revised from 148,000 gain to 238,000. went from 138,000 to 132,000. this month, the 7.7 is a full point lower than where we were at this time last year. so what are we supposed to make of these numbers and does the november report provide us a real sense of where this recovery is right now? let's bring in the man we like to bring in every month, the chief economist for moody's analytics. mark, i have to start wi
cliff photo-op of yesterday which was the president meeting with the middle class family. now to jobs. we have something of a surprise report. jobs turned out to be up up. the jobless rate is down and the word from the government is that sandy had no substantive effect on the data. here are the numbers. unemployment down to 7.7%. the economy added 146,000 jobs, not great but good. a third of that came from the retail sector. 53,000 jobs added. professional and business services up 43,000....
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the fiscal cliff is just a small down payment on paying the piper. we have to pay for all this government. the big mistake is growing government. >> although there's a room for balance, i don't say peter's wrong entirely, the fact of the matter is the top 2% are not paying their fair share. american people don't think so. the numbers don't add up. if you want a deal here, you're going to have to raise the rates and then if you want to talk about spending cuts, as i think the president will eventually do, you'll see a last-minute agreement. >> first of all, i'm in the top 2%. i'm paying 45% of my total income in income tacks boxes to state of connecticut and the government. >> you need a better accountant, peter. >> more than half of my income is going to go to the government. you tell me, what's fair about that? >> i'll tell you what's fair about that -- >> i'm paying half. excuse me. i don't care what the majority voted to do. they don't have a right to steal my money just because they vote for it. >> i'll tell you what the problem is. we're in a cr
the fiscal cliff is just a small down payment on paying the piper. we have to pay for all this government. the big mistake is growing government. >> although there's a room for balance, i don't say peter's wrong entirely, the fact of the matter is the top 2% are not paying their fair share. american people don't think so. the numbers don't add up. if you want a deal here, you're going to have to raise the rates and then if you want to talk about spending cuts, as i think the president...
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potential impacts they face from the looming fiscal cliff. it's now just 25 days away. nbc's tracie potts joins us with those details from washington. >>> lynn, good morning. good morning, everyone. the president spent time with a family who answered a call from the white house. the question was what would you do if you had to pay another $2200 in taxes. that's what the white house says will be the average impact on middle class families if they don't work out avoiding this fiscal cliff. the president sat down with a couple, a teacher, a man who works at an auto dealership. they live with her family. the family says they're looking at a couple month's rent if they have to pay more taxes. the president reiterated he absolutely will not sign any deal that does not increase taxes on the wealthy in this country. he said the problem is solvable. >> for them to be burdened unnecessarily because democrats and republicans aren't coming together to solve this problem gives you a sense of the costs involved in very personal terms. >> reporter: now in a
potential impacts they face from the looming fiscal cliff. it's now just 25 days away. nbc's tracie potts joins us with those details from washington. >>> lynn, good morning. good morning, everyone. the president spent time with a family who answered a call from the white house. the question was what would you do if you had to pay another $2200 in taxes. that's what the white house says will be the average impact on middle class families if they don't work out avoiding this fiscal...
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towards the fiscal cliff. once considered untouchable third rail, changes to social security and other so-called entitlements are now being seriously discussed. >> we really have not gun to talk about real entitlement reforms. the only way you have true avoidance where you have solution is to mix an appropriate amount of revenues with true entitlement reform. and until the debate moves to that point, there's no serious debate taking place. >> house republicans offered a framework that includes raising the medicare eligibility age from 65 to 67 squeezing out savings from social security by changing the way inflation is calculated, and possible means testing that could disqualify wealthier, older americans from the medicare program. lawmakers insist any changes will be done gradually and will not impact current retirees, but that's not soothing the fears of seniors who say inflation adjustments will have an immediate impact. >> to tell somebody living on social security, and we have something in the order of one
towards the fiscal cliff. once considered untouchable third rail, changes to social security and other so-called entitlements are now being seriously discussed. >> we really have not gun to talk about real entitlement reforms. the only way you have true avoidance where you have solution is to mix an appropriate amount of revenues with true entitlement reform. and until the debate moves to that point, there's no serious debate taking place. >> house republicans offered a framework...
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>> definitely the fiscal cliff. what you were talking about yesterday, boehner's comments really turned things around for the markets, all this sense of optimism all of a sudden. we saw the markets go from down triple digits for the dow up to triple digits. we haven't seen a swing like that since over a year ago. it's been october of 2011 was the last time it happened. it's definitely the fiscal cliff driving things. we heard commentary from lloyd blankfein, between that and the lead story -- one of the top stories on the front page of the "wall street journal" suggesting the president is flexible on the tax hikes, that sounds like a deal might get done. you see a gain of 50 or 60 points. gdp up 2.7% from 2%. there was concerning things when you dig into the numbers, it's all fiscal cliff all the time here, chuck. >> oh, hopefully, as you guys say, it will all -- people will rise above, right, becky? >> that's right. >> i know. i see the button. up next, we're taking a deep dive into the u.s. relationship with afgha
>> definitely the fiscal cliff. what you were talking about yesterday, boehner's comments really turned things around for the markets, all this sense of optimism all of a sudden. we saw the markets go from down triple digits for the dow up to triple digits. we haven't seen a swing like that since over a year ago. it's been october of 2011 was the last time it happened. it's definitely the fiscal cliff driving things. we heard commentary from lloyd blankfein, between that and the lead...
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the fiscal cliff is bearing down on us. they might settle 0* reece's pieces in the senate cafeteria for a special screening of lincoln. we will keep you posted on these developments. >> stop getting on youtube so you can see "gangnam style." and start using the precious social media skills to go out and sign people up on this baby. three people a week. let it grow. >> did you ever think this is what rome looked like in its final days? it is arguably the best fiscal video i have ever seen. the 81-year-old former debt commission co chair is shaking his money maker in hopes of getting young people engaged in the set issue. since it is teaming up with a group called the can kicks back. nick, were you the can? >> no, that was my colleague, ryan. he got the short stick on that one. >> i don't think so. i would have paid dearly for that spot. your point is what with this wake up young people to help with an issue. you guys really are going to get the bill. >> we know debt is not the sexiest issue for our generation, but it is the
the fiscal cliff is bearing down on us. they might settle 0* reece's pieces in the senate cafeteria for a special screening of lincoln. we will keep you posted on these developments. >> stop getting on youtube so you can see "gangnam style." and start using the precious social media skills to go out and sign people up on this baby. three people a week. let it grow. >> did you ever think this is what rome looked like in its final days? it is arguably the best fiscal video i...
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i thoroughly enjoyed your suggestion for a drinking game, fiscal cliff. trouble is if you had it for every time that phrase got mentioned we would all be paralytic by midday. >> think how much less worried we'd be. >> you are the perfect guy to talk about this, because i'm getting increasingly fed up, bored, miserable with the whole thing. i wake up in the morning with fiscal cliff reverberating in my brain and i can see politicians playing the very game that you alluded to there on jay leno and it is a game for them but for other people, it's a very real thing. and the economy at the moment is completely stagnant waiting for something to happen. you've been in a position of very negative government shutdown with president clinton and a very positive, where you and he in the second term got together, got stuff done and as you saw, a surplus in the economy. so you know what the reality of these debates are like and what it's likely to be going on behind closed doors. what is the way through this and how is this likely, in your expert opinion, to be resolve
i thoroughly enjoyed your suggestion for a drinking game, fiscal cliff. trouble is if you had it for every time that phrase got mentioned we would all be paralytic by midday. >> think how much less worried we'd be. >> you are the perfect guy to talk about this, because i'm getting increasingly fed up, bored, miserable with the whole thing. i wake up in the morning with fiscal cliff reverberating in my brain and i can see politicians playing the very game that you alluded to there on...
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for an agreement to avoid the fiscal cliff. nbc's tracie potts joins from us washington with those details. tracie, good morning. >> reporter: lynn, good morning. so, it may be no deal today, but perhaps moving forward on these spending cuts and tax increases that are looming at the end of the year. some very specific meetings with a handful of lawmakers who could have a huge impact on your paycheck come january 1st. . treasury secretary tim geithner and white house legislative chief rob neighbors bring the president's deficit-cutting plan to capitol hill today. >> i am very open to a fair and balanced approach to reduce our deficit. >> reporter: republicans want to know, does that approach include the government spending less money? >> we've put revenue on the table, as long as it's accompanied by serious spending cuts. >> reporter: white house negotiators are meeting with boehner and top republicans and democrats. executives from big companies heard the plan wednesday at the white house. at least one thinks there could be a d
for an agreement to avoid the fiscal cliff. nbc's tracie potts joins from us washington with those details. tracie, good morning. >> reporter: lynn, good morning. so, it may be no deal today, but perhaps moving forward on these spending cuts and tax increases that are looming at the end of the year. some very specific meetings with a handful of lawmakers who could have a huge impact on your paycheck come january 1st. . treasury secretary tim geithner and white house legislative chief rob...
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this is going to go right down to december 21st in avoiding the fiscal cliff. don't think anything differently. >> today one of the streets most bullish market watchers is is making a pretty bold prediction saying the s&p 500 is going to rally 17% by the end of next year. tony dwire joins us now. good to have you. >> thanks. >> i'm wondering how you're dealing with your predictions and your forecasting on the markets when you have such gyrations due to what's going on with the fiscal cliff. >> well, truthfully, you know, hopefully what makes me a little bit different on the street, i really try not to guess. what they're going to say, it's impossible. what i fall back to is what's the tactical outlook? we had a nice 5% move off of that low. our view is you've always retested that kind of intermediate term low. we're looking for a little pullback. ultima ultimately, don't fight the fed and don't fight the tape. when i talk to people, you kind of think about it. why isn't it follow the fed or follow the tape? because every cycle we think the fed is not going to d
this is going to go right down to december 21st in avoiding the fiscal cliff. don't think anything differently. >> today one of the streets most bullish market watchers is is making a pretty bold prediction saying the s&p 500 is going to rally 17% by the end of next year. tony dwire joins us now. good to have you. >> thanks. >> i'm wondering how you're dealing with your predictions and your forecasting on the markets when you have such gyrations due to what's going on with...
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house speaker john boehner and the president are hoping to break the fiscal cliff ice. now we're just mixing metaphors, left and right. speaking on the phone, 26 days left, of course, until we tumble over the cliff or slide down the slope or fall off the precipice or however you want to put it. we could, of course, face massive tax hikes, spending cuts. that's what the fiscal cliff is all about. it would all start with the start of the new year. i want to get to senator jeff merkley. he's a democrat from the state of oregon. he's on both the budget committee and the banking, housing, and urban affairs committee. nice to have you with us, sir. thanks for joining us. >> you're welcome. >> thank you. before we get to fiscal cliff, let's talk a little bit about syria. there are now reports that they may be loading the components that would make up sarin gas. and i'm curious to know and i think a lot of people are watching this, does this mean that we are headed, the united states is headed into military action considering what we know about the red line, if you will, that h
house speaker john boehner and the president are hoping to break the fiscal cliff ice. now we're just mixing metaphors, left and right. speaking on the phone, 26 days left, of course, until we tumble over the cliff or slide down the slope or fall off the precipice or however you want to put it. we could, of course, face massive tax hikes, spending cuts. that's what the fiscal cliff is all about. it would all start with the start of the new year. i want to get to senator jeff merkley. he's a...
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cliff expire, go down the fiscal cliff for tax rates, and adjust the taxes for the 98% through the rebate process. and this could be available for anyone, any president. let the bush tax rates apply as a ceiling, and then apply the rebate process to control the 98%. host: why do you propose that? what is the advantage in your view? caller: because the executive branch, the president, whoever it is, would have the ability to adjust the tax effectively for anyone who falls below the clintons' ceiling, and they could do this anytime. there would not have to go back to congress. -- they would not have to go back to congress. guest: it is true that technically the administration can do some things without even the congress's approval, but it would not be a lasting solution. let's say you could freeze the amount of withholding that you pay three paycheck at the level it was this year, for the 98%, and increase withholdings for everyone else as the law would dictate if you read over the cliff. -- went over the cliff. but the 98%, if they did not actually pass a law to extend the tax cuts for tha
cliff expire, go down the fiscal cliff for tax rates, and adjust the taxes for the 98% through the rebate process. and this could be available for anyone, any president. let the bush tax rates apply as a ceiling, and then apply the rebate process to control the 98%. host: why do you propose that? what is the advantage in your view? caller: because the executive branch, the president, whoever it is, would have the ability to adjust the tax effectively for anyone who falls below the clintons'...
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gains were limited because of fiscal cliff concerns with no major progress out of washington. >> we're going to get the november jobs report at 8:30 a.m. eastern this morning. a survey forecasts 8% unemployment. that would be ticking up. 77,000 jobs added. a lot slower growth we have seen for much of this year. october 171,000 jobs were added then. it's likely hurricane sandy affected these numbers. they studied after hurricane katrina and the numbers were revise revised because it was too difficult for them to collect the data during and after the storm. in today's report we'll be watching four sectors. manufacturing, retail, leisure and hospitally and temporary help industries. mark sandy said aside from the storm, the job market turned in a good performance during the month. this is impressive given by the uncertainty of the presidential election. businesses are holding firm in their hiring and firing decisions. another unusual factor in the numbers, the layoffs and strikes at hostess. those could also affect the numbers. hostess filed for bankruptcy last month. i want to bring you
gains were limited because of fiscal cliff concerns with no major progress out of washington. >> we're going to get the november jobs report at 8:30 a.m. eastern this morning. a survey forecasts 8% unemployment. that would be ticking up. 77,000 jobs added. a lot slower growth we have seen for much of this year. october 171,000 jobs were added then. it's likely hurricane sandy affected these numbers. they studied after hurricane katrina and the numbers were revise revised because it was...
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. >> what if the fiscal cliff talks goes down what impact will that go on consumer spending. >> if our tax go up and our expenses go up, then we have less discretionary income and 70% of the u.s. economy is driven by the consumers, by us. so that is really important that we absolutely focus on economic growth and don't penalize the consumers going forward. >> so you're saying it would have an impact on your business? >> i think it absolutely would because if our discretionary income is going to be less and we're paying more tax we will havewe less discretionary income for things like everything. including aublings. >> so what kind of contingency plan is ford making in case we do go over the cliff? >> well, our plan has always been to match our production to the real demand. and we have a very flexible manufacturing system. so you know, if we didn't get this solved and we didn't have as many sales, we would lower our production to meet that real demand like we have in the past. >> looking to the new year, the business environment, consumer sentiment, how are things shaping up for ford?
. >> what if the fiscal cliff talks goes down what impact will that go on consumer spending. >> if our tax go up and our expenses go up, then we have less discretionary income and 70% of the u.s. economy is driven by the consumers, by us. so that is really important that we absolutely focus on economic growth and don't penalize the consumers going forward. >> so you're saying it would have an impact on your business? >> i think it absolutely would because if our...
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dow futures at this point are down about by 22. >>> what impact will going over the fiscal cliff have on stocks? we've been talking about it with our guest host dan gilbert. we've decided we have time? >> as far as the fiscal cliff? >> no, we have time for mortgages. >> i think we have time. the fed has stated they want to hold short-term interest rates through 2014. we know they don't technically control long-term interest rates unless they are buying mortgages which they have done over the last couple years. so, you know, it appears by all measures that you have some time, but you never know because these things can change very rapidly. rates tend to go up higher a lot quicker than they come down. >> you've seen the commercial allied financial where they say the greatest economists in the world and a nobel laureate and do you know where interest rates are going in a year, and he says no. we should know what cd rates are going. >> i think they've done the best they can -- >> what is the maximum amount cd rates could fluctuate in the next 12 months? >> could fluctuate? >> a quarter po
dow futures at this point are down about by 22. >>> what impact will going over the fiscal cliff have on stocks? we've been talking about it with our guest host dan gilbert. we've decided we have time? >> as far as the fiscal cliff? >> no, we have time for mortgages. >> i think we have time. the fed has stated they want to hold short-term interest rates through 2014. we know they don't technically control long-term interest rates unless they are buying mortgages which...
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. >>> this is a 9 news fiscal cliff note. fact, if congress and the white house don't reach an agreement, your pay economic is going to go down. the reason? because the tax withholding in your paycheck will increase. here's the back story. the current payroll tax cut is set to expire december 31st. in dollars and cents this means your payroll tax withholding is going from 4.2% to 6.2%. now why is this happening? many of the policies expiring at the end of the year like the payroll tax cut and emergency unemployment benefits were originally passed on a temporary basis. the thinking was that the economy would be in much better shape by now and the policies could expire without causing a recession. >> you can learn more any time at www.wusa9.com and on 9 news. this has been a 9 news fiscal cliff note. >>> sources tell the associated press president obama will ask the congress for $50 billion in the aftermath of superstorm sandy. now the late october storm was one of the worst to ever hit the northeast section of the country and
. >>> this is a 9 news fiscal cliff note. fact, if congress and the white house don't reach an agreement, your pay economic is going to go down. the reason? because the tax withholding in your paycheck will increase. here's the back story. the current payroll tax cut is set to expire december 31st. in dollars and cents this means your payroll tax withholding is going from 4.2% to 6.2%. now why is this happening? many of the policies expiring at the end of the year like the payroll tax...
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cliff. if you believe that? >> it's hard to imagine that the president would want to send the economy into another recession. that would be a terrible start to his second term and it would cripple the rest of the spectrum. everything else that he would want to do. it would seem a bit suicidal to do that. that being said, there is a scenario where he thinks that he might be able to quickly turn around and get tax cuts back in place. it depends on how much you think going over the fiscal cliff will affect the economy. others say it will be devastating and others say it will be back. it depends on where you stand when you are making these sort of analyses. megyn: it feels like we are left with the economy -- with people's livelihoods and growth in the country and salaries and unemployment benefits. we are just left. both sides are accusing the other of being the untethered risk taker. last night speaker boehner made remarks demanding leadership on the president. here he is. >> this is not a gam
cliff. if you believe that? >> it's hard to imagine that the president would want to send the economy into another recession. that would be a terrible start to his second term and it would cripple the rest of the spectrum. everything else that he would want to do. it would seem a bit suicidal to do that. that being said, there is a scenario where he thinks that he might be able to quickly turn around and get tax cuts back in place. it depends on how much you think going over the fiscal...
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but in these fiscal cliff negotiations, do you really think that the republicans see this chart and they need that economy to slow down a little bit if they are going to win this? >> maybe so. the income inequality in this country has been a problem but it has been for decades. it's been exacerbated by policies passed more recently. so when you go into negotiations, you ask, is it politically correct to be out there arguing that the 2% need to have their tax cuts protected? that's the problem that republicans face. labor does have a bit of an upper hand on this one. but then again, you look at all the stuff being offered as concessions. it's going to hit the working class. they know the history of the negotiations. they know the entitlement programs that the cuts that tend to be made affect them more than others. but republicans -- they have an image problem when they are out there saying we need to protect the tax rates of the top 2%. everyone knows the recent history of income inequality. >> could the uncertainty hurt the economy? i know you have talked about that and written about tha
but in these fiscal cliff negotiations, do you really think that the republicans see this chart and they need that economy to slow down a little bit if they are going to win this? >> maybe so. the income inequality in this country has been a problem but it has been for decades. it's been exacerbated by policies passed more recently. so when you go into negotiations, you ask, is it politically correct to be out there arguing that the 2% need to have their tax cuts protected? that's the...
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be sure to tune in for the latest on the fiscal cliff talks, timothy geithner will sit down with our chris wallace and explain the tax plan and plus, chris will have an interview with house speaker john boehner, 2 p.m. and 6 p.m. eastern here on the fox news channel. >> fox news overseas, massive protests in egypt and thousands have gathered for a 9th straight day in cairo's tahrir square about morsi's power grab and the constitution he's supporting and the port city of alexandria where the supporters of president morsi are clashing with opponents and thousands of his supporters taking part in nationwide rallies. and they're organized by the muslim brotherhood has taken charge and steve harrigan is there and streaming live for us from cairo right now. steve? >> it's really two different sets of demonstrations going on. there's the group behind me at tahrir square and those are people against president morsi, but today for the first time we've seen a much larger group, mainly supported by the muslim brotherhood and they're coming in in support of president morsi and that group is a mi
be sure to tune in for the latest on the fiscal cliff talks, timothy geithner will sit down with our chris wallace and explain the tax plan and plus, chris will have an interview with house speaker john boehner, 2 p.m. and 6 p.m. eastern here on the fox news channel. >> fox news overseas, massive protests in egypt and thousands have gathered for a 9th straight day in cairo's tahrir square about morsi's power grab and the constitution he's supporting and the port city of alexandria where...
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Dec 7, 2012
12/12
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. >>> we are counting down and we are now 24 days away from falling off that fiscal cliff. neither the republicans nor the democrats are backing down from their demands. neither side seems willing to take the first step toward real negotiations. >> even on tv they're saying publicly. the president says they are prepared to go over the cliff if the republicans don't agree to end the tax cuts for the healthiest americans. the republicans believe their counteroffer of closing loopholes and limiting deductions is the way to go. one family from falls church is one of many that will be hit very hard for the cuts are not extended. >> a couple thousands dollars means a couple months rent for this family. for them to be burdened unnecessarily because democrats and republicans aren't coming together to solve this problem gives you a sense of the costs involved in very personal terms. >> at a senate hearing yesterday, there was a economist that backed the republicans' plan. he cannot imagine anyone looking at the president's proposal and arguing it wouldn't send the country into reces
. >>> we are counting down and we are now 24 days away from falling off that fiscal cliff. neither the republicans nor the democrats are backing down from their demands. neither side seems willing to take the first step toward real negotiations. >> even on tv they're saying publicly. the president says they are prepared to go over the cliff if the republicans don't agree to end the tax cuts for the healthiest americans. the republicans believe their counteroffer of closing...